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Create t accounts in excel

01/10/2021 Client: muhammad11 Deadline: 2 Day

In Excel, create a four column chart of accounts for a fictitious company in your pathway. The company should be a sole proprietor and a service business. In the upper left side of your worksheet list your name, your company name and your pathway. Write a short description of what your company does. Your Chart of Accounts must include the following:

List at least 16 accounts.
At least 6 account titles should be customized for your specific company.
Assign a three digit account number to your accounts following the example chart of accounts.
Group and title the accounts, as in the example, as Assets, Liabilities, Owner’s Equity, Revenue and Expense.
In the last two columns, state what the normal balance of the account is (debit or credit), and state how the account is increased (debit or credit).
Your four columns should have the following titles:

Account number
Account title
normal balance
increases with
The example below is for the cash line

Account number Account title Normal Balance Increases with
101 Cash Debit Debit
:

Examples of businesses in pathways could be:

AHCD: Dance, Theater, Film production, Social media, Graphics design or architecture business
Business: Accounting office, caterer, advertising firm, dry cleaner, restaurant, any business is acceptable
Education: K-12 tutoring, Child care, Charter schools
Health Sciences: Dr. or Dentist office, PT office, Hospital, Insurance co,
IMCT: Engineering Co., Aviation maintenance, Aviation distribution, Supply Chain Management
Public Safety: Law office, PI, Equipment providers for the industry
STEM: Engineering Co., Vet. Office, Computer Services co.
SGSHS: Psychology office, Non-profit agencies, Social Media
Charts of Accounts:

1. Assets 4. Revenue
 11 Cash  41 Fees Earned
 12 Accounts Receivable 5. Expenses
 14 Supplies  51 Wages Expense
 15 Prepaid Insurance  52 Supplies Expense
 17 Land  53 Rent Expense
 18 Office Equipment  54 Utilities Expense
2. Liabilities  59 Miscellaneous Expense
 21 Accounts Payable
 23 Unearned Rent
3. Owner's Equity
 31 Capital
 32 Drawing

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